Chinainstru & Quantumtech (Hefei) Co., Ltd. (hereinafter referred as CIQTEK) announced its completion of C-round financing totaling several hundred million yuan, with investors including China State-Owned Capital VC Fund, CAS Capital, IDG Capital, Hefei Industry Investment Group, Songhe Capital, Green Pine Capital Partners Qianhai FOF, and others.
In addition, existing shareholders such as iFlyTech Venture Capital, Guochuang Software, GL Ventures, Tongchuang Cowin Capital, Bosera Innovation and Spark Ventures also joined the financing round.
CIQTEK was born from the Key Laboratory of Microscopic Magnetic Resonance, Chinese Academy of Sciences, University of Science and Technology of China. Established in 2016, CIQTEK takes quantum precision measurement as its core technology, and provides enterprises, governments and research institutions around the world with core key devices represented by enhanced quantum sensors and scientific instruments and equipment for analysis and testing.
With efforts in the past five years, CIQTEK has a highly qualified team of more than 400 people, with more than 70% being research personnel. Its high-end science instruments are used by several hundred client enterprises domestically and abroad. CIQTEK is committed to empowering all walks of life with quantum technology, and realizing demonstration application in oil exploration, life sciences, advanced materials, energy and power and other fields.
He Yu, Chairman of CIQTEK, said that CIQTEK is one of the earliest innovation enterprises in China with quantum precision measurement as its core technology. In the future, the firm will further improve its R&D system and enhance core competitiveness in technology, products, services and solutions after its C-round of financing.
In addition, CIQTEK plans to will release its first business-used ion trap quantum computer in 2022, which will provide stable and reliable low-cost solutions for researchers.